Non audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2013 Dear Sir,

I have recieved Rs. 8,59,600 annualy from commission.Shall I calculate 8% of the recieved amount as net profit? Kindly tell me if you have time.

benjamin

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 November 2013 Dear Benjamin,

commission income is not covered under 44AD. you need to file income under normal provisions.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 November 2013 Dear Benjamin,

commission income is not covered under 44AD. you need to file income under normal provisions.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2013 Sec 44AD is not useful for commision based income as Finance act 2012 has stated that sec 44AD cannot be invoked for commision business,,,file itr-4 with total income under normal income tax provision.

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